Portrait of an Ascending Sovereign Credit
The labour market has been negatively affected by the Covid-19, is expected to return to
growth in the second half of 2021
The government took swift actions to mitigate the unemployment growth during Covid-19 crisis; productivity growth is on
the rise.
20
20
15
10
5
Unemployment: Headline Rate
80
80
75
70
0
65
660
Participation and Employment Rates
(age 15-64, %)
55
0
2011
2012 2013 2014 2015 2016
2017 2018 2019
2020
2021
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Headline unemployment
Participation rate
Employment rate
Source: Eurostat (16.11.2021.)
Source: Central Statistical Bureau of Latvia data (16.11.2021.)
Real Productivity Growth Per Worker
(2015-2020 average, %)
Average Monthly Wage For Full-time Job
(Y-o-y, %)
2.1
EU-27: 0,0%
Latvia
A+/A3/A-
Estonia
AA-/A1/AA-
Czechia
Austria
France
AA-/Aa3/AA- AA+/Aa1/AA+ AA/Aa2/AA
Belgium
AA/Aa3/AA-
Source: Eurostat (20.10.2021.)
10
12
10
10
8
6
4
2
0
Q1'18
Q2'18
Q3'18
Q4'18
Q1'19
Q2'19
■Real Net Wages
Q3'19
Q4'19
Q1'20
Q2'20
Q3'20
Q4'20
Q1'21
Q2'21
Q1'16
Q2'16
Q3'16
Q4'16
■Gross Nominal Wages
Source: Central Statistical Bureau of Latvia data (20.09.2021.)
Q1'17
Q2'17
Q3'17
Q4'17View entire presentation